The stock of Harmonic, Inc. (NASDAQ: HLIT) has increased by 1.01 when compared to last closing price of 10.85. Despite this, the company has experienced a -1.17% fall in its stock price over the last five trading sessions. The Motley Fool reported 2024-04-30 that In the most recent quarter, business was slow for Harmonic. The company reached a record backlog, which gives optimism for the future as a new CEO prepares to take over.
Is It Worth Investing in Harmonic, Inc. (NASDAQ: HLIT) Right Now?
Harmonic, Inc. (NASDAQ: HLIT) has a higher price-to-earnings ratio of 18.03x compared to its average ratio. HLIT has 36-month beta value of 0.88. Analysts have mixed views on the stock, with 1 analysts rating it as a “buy,” 2 as “overweight,” 2 as “hold,” and 1 as “sell.”
The public float for HLIT is 113.41M, and currently, short sellers hold a 6.72% ratio of that float. The average trading volume of HLIT on May 09, 2024 was 1.87M shares.
HLIT’s Market Performance
HLIT stock saw a decrease of -1.17% in the past week, with a monthly decline of -2.32% and a quarterly a decrease of -15.30%. The volatility ratio for the week is 3.11%, and the volatility levels for the last 30 days are 4.14% for Harmonic, Inc. (HLIT). The simple moving average for the last 20 days is 7.05% for HLIT stock, with a simple moving average of -3.69% for the last 200 days.
Analysts’ Opinion of HLIT
Many brokerage firms have already submitted their reports for HLIT stocks, with Raymond James repeating the rating for HLIT by listing it as a “Strong Buy.” The predicted price for HLIT in the upcoming period, according to Raymond James is $16 based on the research report published on August 10, 2023 of the previous year 2023.
Jefferies, on the other hand, stated in their research note that they expect to see HLIT reach a price target of $19, previously predicting the price at $14.25. The rating they have provided for HLIT stocks is “Buy” according to the report published on January 09th, 2023.
Rosenblatt gave a rating of “Buy” to HLIT, setting the target price at $15 in the report published on May 24th of the previous year.
HLIT Trading at -7.70% from the 50-Day Moving Average
After a stumble in the market that brought HLIT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -40.53% of loss for the given period.
Volatility was left at 4.14%, however, over the last 30 days, the volatility rate increased by 3.11%, as shares surge +0.18% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -16.72% lower at present.
During the last 5 trading sessions, HLIT fell by -1.17%, which changed the moving average for the period of 200-days by -29.70% in comparison to the 20-day moving average, which settled at $10.24. In addition, Harmonic, Inc. saw -15.95% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at HLIT starting from Graham Ian, who sale 52,730 shares at the price of $10.95 back on May 02 ’24. After this action, Graham Ian now owns 63,616 shares of Harmonic, Inc., valued at $577,430 using the latest closing price.
Haltmayer Neven, the SVP, Video R&D of Harmonic, Inc., sale 14,747 shares at $13.68 during a trade that took place back on Feb 16 ’24, which means that Haltmayer Neven is holding 156,559 shares at $201,676 based on the most recent closing price.
Stock Fundamentals for HLIT
Current profitability levels for the company are sitting at:
- 0.01 for the present operating margin
- 0.5 for the gross margin
The net margin for Harmonic, Inc. stands at 0.12. The total capital return value is set at 0.01. Equity return is now at value 19.01, with 9.80 for asset returns.
Based on Harmonic, Inc. (HLIT), the company’s capital structure generated 0.25 points at debt to capital in total, while cash flow to debt ratio is standing at 0.2. The debt to equity ratio resting at 0.33. The interest coverage ratio of the stock is 3.53.
Currently, EBITDA for the company is 35.92 million with net debt to EBITDA at 3.96. When we switch over and look at the enterprise to sales, we see a ratio of 2.35. The receivables turnover for the company is 5.19for trailing twelve months and the total asset turnover is 0.77. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.09.
Conclusion
To put it simply, Harmonic, Inc. (HLIT) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
